- A South Korean publisher with a stake in "Baby Shark's" creator saw its stock surge after
Elon Musk 's tweet about thesong . - Shares in
Samsung Publishing rose 10% before closing about 6% higher. - The gains mark another example of Musk's mega-influence on market movements via Twitter.
Shares in South Korea-based Samsung Publishing rose more than 10% on Wednesday after Elon Musk tweeted about the viral YouTube song "Baby Shark."
The company is a major shareholder in the song's producer, an entertainment firm called SmartStudy. Its shares in
The Seoul-based company's stock move was driven by Musk $4: "Baby Shark crushes all! More views than humans," along with a video of the song. Its shares are up 97% so far this year, according to data from $4.
Samsung Publishing's stock price has quadrupled since the end 0f 2018 as the song grew in popularity. "Baby Shark" became the $4 ever in November 2020, outpacing the global smash hit "Despacito" by Luis Fonsi and Daddy Yankee.
Even a $4 inspired by the song was minted in May.
Wednesday's stock gains marks another example of Musk's mega-influence on market movements via Twitter. His tweets about $4 and $4 have led to an uptick in conversations on cryptocurrencies, according to online social analysis platform Cyabra.
Before Musk $4 in April that "SpaceX is going to put a literal dogecoin on the literal moon," there were only several hundred profiles engaged online with the meme-inspired cryptocurrency. But a day later, engagement soared over 16,000%, according to Cyabra's research.
Separately on Wednesday, Musk tweeted a satirical image of the meme-famous Shiba Inu dog $4: "Found this pic of me as a child." Almost immediately after, dogecoin soared 21% to 39 cents.
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